Aquino sees sustained rise of FDIs to the Phl

MANILA — Citing the trend of the past few years and what he considers the investors' faith in the country's good-governance thrusts, President Benigno Aquino III predicts a sustained strong growth of Foreign Direct Investments (FDIs) in the Philippines.

Keynoting the 20th Philippine Economic Zone Authority (PEZA) anniversary celebration at the World Trade Center in Pasay City Thursday, Mr. Aquino said total PEZA-approved investments as of end-2014 reached P2.86 trillion - of which 45 percent, or P1.3 trillion, were registered under this administration.

“This development gives us optimism that this trend will continue. After all, in 2014 the Philippines recorded an all-time high of US$6.2 trillion in net foreign direct investmets, almost six times what we reported in 2010,” he said.

During his term, Aquino said, PEZA Director General lawyer Lilia B. De Lima had been invited by Philippine ambassadors in Europe to hold investment promotion activities, something that did not happen in previous administrations.

”At the rate we are going, total recorded investments under this administration may exceed the value of investment recorded under the previous three administrations,” he said. Besides the trend of FDI flows, the President said his optimism is anchored on what he called the investors’ belief in the good governance thrust of his administration.

AQUINO COMMENDS PEZA He commended the PEZA for boosting investor confidence in the country and thanked investors for betting on Filipinos.

The Chief Executive also lauded PEZA Director-General Lilia de Lima for advocating a policy of “no red tape and no corruption, just non-stop service and red-carpet treatment” for all investors.

He acknowledged the “invaluable contributions” of partners from the private sector from the country and abroad, which he said has led to the gainful employment of a total of 1,078,157 Filipinos since 1995.

“Back when you were scouting locations for your businesses, you came to the Philippines and saw our vast potential, manifested in the hardworking and talented Filipino people. You liked what you saw, you bet on our countrymen, and you are now reaping the fruits of that decision,” he said.

The President expressed optimism that the impressive records PEZA has made would continue.

“Given the radical change in attitude of our country, I believe that what has happened these past four years and nine months is but the start. So long as we keep this path, I can say, with full confidence: you ain’t seen nothing yet,” said President Aquino. (Interaksyon.com)